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Stan Ovshinsky’s spirit of innovation lives on in a new, Troy-based start-up company, which is preparing to produce a new battery that can help make hybrid vehicles more powerful and less expensive.

Ovshinsky died last month just short of his 90th birthday, but he helped inspire the creation of Energy Power Systems LLC in Troy, which has set about revamping the lead-acid battery, which has been used as a source of power for nearly 150 years…